Fed official warns of more rate hikes on ‘too hot’ data

THE US Federal Reserve may have to raise interest rates to a higher level than earlier anticipated if “data reports continue to come in too hot,” Fed Governor Christopher Waller warned yesterday.

This comes as data released in February showed that job gains surged unexpectedly, while revised figures indicated that inflation slowed less than previously reported, he said in prepared remarks at the Mid-Size Bank Coalition of America.